Eli Broad is hard at work developing his $130 million, 120,000-square-foot contemporary art museum. The Broad Museum is located in downtown Los Angeles across the street from Frank Gehry’s elaborate Walt Disney Concert Hall. The museum was designed by NYC-based architecture firm Diller Scofidio + Renfro, who have outfitted the building with an innovative lighting system and developed a “vault-and-veil” concept for the space. The museum will double as storage for the Broad Art Foundation’s massive collection, which includes works by over 200 artists, such as Jeff Koons, Cindy Sherman, and Roy Lichtenstein.

Admission will be free to the public (yay!) once the museum opens its doors in late 2014.

ARTINFO scored an exclusive tour of the museum and had a chance to speak with Broad, Joanne Heyler, director and chief curator of the Broad Art Foundation, and architect Elizabeth Diller.